Foley & Lardner LLP served as lead timeshare and exchange counsel on behalf of Hilton Grand Vacations Inc. (NYSE:HGV) in a definitive agreement to acquire Diamond Resorts International, Inc. Announced on March 10, the stock-based transaction has an equity value of approximately $1.4 billion.
The deal combines the largest independent timeshare operator with HGV’s internationally recognized brand to create significant value from scale, while expanding and diversifying HGV’s resort portfolio into over 20 new markets. The combined company will have the broadest offering in the vacation ownership industry, including Diamond’s 92 leisure resorts and nearly 400,000 owners and HGV’s 62 upscale and luxury properties and over 325,000 owners.
The Foley team was led by partner Bill Guthrie, and also included partners Dan Bachrach and Matt Jassak.
